Rental Property In Edinburgh-Q1 2012 Report
There has been a reassuring start to the year for landlords. With 1, 2 and 3 bed properties showing an average annual increase in rental value, at least the economic weather is looking better.
Typical 1 bed properties command an average of £544 per month in the Scottish capital which is an annual increase of 1.9%. The 2 bed properties in Edinburgh have fared even better with an average rent of £720, a respectable increase of 3.7% compared to this time last year. The top performer however is the 3 bed property which stands head and shoulders above the rest with a 5% annual increase making the average rent £1,028.
The trend is bucked by 4 bed properties which have taken a slight hit, experiencing a 1.3% fall in rental value. Please bear in mind that 4 bed properties took an average of 58 days to rent in the last quarter which has now reduced to just 30 days. This considerable reduction in the “time to let” figures was achieved by overcutting the rents on these properties and I anticipate these figures to stabilise over the next quarter with 4 bed properties showing an increase in monthly rent from June 2012 onwards.
Our friendly and experienced team at Atlas Lettings can offer expert advise on Buy To Let Property In Edinburgh and provide Edinburgh Landlords with superior Property Letting services including Let Only and Full Property Management In Edinburgh.
Julian England (Property Manager)